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Highlights / Annotations / Catch Notes For 2016

Home Highlights Year 2016

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Showing 2451 to 2500 of 5838 Records

1 ....46 47 48 495051 52 53 54........ 117

July 6, 2016 Case Laws Customs

Valuation - the ship demurrage charges cannot be included in the discharges of custom duty on the imported goods even if the assessments are made provisionally - AT
July 6, 2016 Case Laws Customs

Second hand photocopiers are ‘capital goods’ and no licence is required for importing the same under the EXIM Policy - AT
July 6, 2016 Case Laws Income Tax

Claim of refund - Condonation of delay in filing the return - genuine hardship - application u/s 119(2)(b) - The search and seizure proceedings were conducted on 23......
July 6, 2016 Case Laws Income Tax

Reopening of assessment - suppression of sale - excise duty evasion proceedings were pending - When thus the AO had such material available with him which he perused,......
July 6, 2016 Case Laws Income Tax

Attachment orders u/s 281B - Assessment u/s 153A in pursuance of Search is pending - the orders of attachment directed to be lifted upon fulfillment of certain specific conditions - HC
July 6, 2016 Case Laws Income Tax

Transfer of assessment cases u/s 127(2) - The power of transfer of cases therefore, would have to be exercised in proper cases when sufficient material on record justify....
July 6, 2016 Case Laws Income Tax

Maximum marginal rate u/s 164 - answerability of trustees to beneficiary is limited to beneficiary of a particular trust as per Trust Act and it cannot be stretched or......
July 6, 2016 Case Laws Income Tax

Disallowance made under Section 80IA(4) - development of the infrastructure facilities or not - income from the container freight station (CFS) - appellant was declared.....
July 6, 2016 Case Laws Income Tax

Amendment to Section 133(6) is constitutional valid - enough safeguard has been provided towards right to privacy - Co-operative Banks are expected to give out the......
July 6, 2016 Case Laws Income Tax

Penalty u/s 271D and 271E - assessee has accepted the deposits from its employee and members in cash, in violation of provisions of Section 269SS and 269T - All the......
July 6, 2016 Case Laws Income Tax

Revision u/s 263 - taxability of advances received - CIT had only tried to initiate proceedings with a view to start fishing and roving enquires in matters or orders......
July 6, 2016 Case Laws Income Tax

The assessee's claim for exemption u/s 10A had been always allowed by the AO in the preceding financial years. It is a settled principle of law that a claim made u/s 10A....
July 6, 2016 Case Laws Income Tax

Taxability of trust - liability to deduct TDS u/s 194A - receipt of interest income - it is evident that whole of their income was exempt u/s 10(25) and 10(23AAA) of the....
July 6, 2016 Case Laws Income Tax

Deduction u/s.80IA(4) - the contractor, who undertakes for road Widening of the National Highways from 2 lines to 4 lines, is eligible for deduction u/s 80IA(4) - AT
July 6, 2016 Case Laws Income Tax

Disallowance of corporate social responsibility expenses - There is no dispute that the expenses in question are not incurred under the aforesaid statutory obligation.......
July 6, 2016 Case Laws Income Tax

Prize money winning out of unsold lottery tickets - business income OR income from other sources - A.O. treated this income separately and assessed the income as income.....
July 6, 2016 Case Laws Income Tax

Depreciation on golf course - @ 25% under the category of plant machinery OR 10% as allowable in the case of building which includes golf course - AO could not get an......
July 5, 2016 Case Laws Income Tax

Re-opening of assessment which was framed after scrutiny would not be permissible for a fishing inquiry. In the present case, we find the vital link missing from the......
July 5, 2016 Case Laws Income Tax

Provisions of section 40A(2)(b) couldn't be invoked mechanically and simply for the reason that the payment was made to a group concern
July 5, 2016 Case Laws Income Tax

Depreciation on goodwill allowed relying on Supreme Court in Smifs Securities [2012 (8) TMI 713 - SUPREME COURT] wherein it was held that the difference between the cost....
July 5, 2016 Case Laws Income Tax

Provisions of section 194C are not attracted in the case of payments made by the Joint Venture to its constituent members - Relied upon KCEL-MEIL (JV) [2015 (1) TMI 744.....
July 5, 2016 Case Laws Income Tax

During the last few years assessee company followed the same practice of holding certain shares under the head “Investment” and some shares as “Stock in trade”.......
July 5, 2016 Case Laws Income Tax

Where it was found that amount paid by parents of students admitted to assessee’s educational institution was not corpus donation amount, but it was collected only by......
July 5, 2016 Case Laws Income Tax

When there is no separate agreement executed by assessee for the purchase of the flat and the letter of allotment is the only document which gives right of ownership in.....
July 5, 2016 Case Laws Income Tax

Rental income from telecommunication tower installed on the terrace of Assessee to be assessed under head "Income from House Property" u/s 24 as against under head......
July 5, 2016 Case Laws Income Tax

Addition su/s 68 / 69 - When the person who has given advance to the assessee, has sufficient cash balance in its books, the advance cannot be treated as unexplained......
July 5, 2016 Case Laws Income Tax

Where not only the bonds were raised outside India, but the interest payments were also made to non-residents outside India from a bank account held by the assessee......
July 5, 2016 Case Laws Income Tax

Expenditure on setting up a new unit to roll out new types of vehicles is capital expenditure, entitled to depreciation u/s 32.
July 5, 2016 Case Laws Income Tax

Assessee's business (Liquor business) is such that it cannot maintain proper sale bills and the profit varies from area to area and small variation of the profit cannot.....
July 5, 2016 Case Laws Service Tax

Waiver of pre-deposit - undue hardship - assessee himself disclosed the claim for depreciation, Sundry Debtors and loans and advances in the account books - Even......
July 5, 2016 Case Laws Service Tax

Cenvat Credit - original duty payment document / invoices were lost / destroyed in the fire - It is not only the invoice or ledger entry but the respondent might have......
July 5, 2016 Case Laws Service Tax

Refund of unutilized cenvat credit - Commissioner (Appeals) denied refund disallowing the credit on some input services, observing that the input services do not have......
July 5, 2016 Case Laws Central Excise

Demand of duty - Admittedly non relied upon documents have supplied after final hearing of the case. In the circumstances, the impugned order has been passed in gross......
July 5, 2016 Case Laws Central Excise

Classification of FOIL - PVC foils versus PVC films - heading 3920.11 and 3920.12 read with chapter notes - rate of duty / benefit of exemption - Revenue has not given......
July 5, 2016 Case Laws Customs

Import of electronic goods in a baggage - bonafide baggage or not - whether re-import of goods earlier taken away - crossing through green channel - passenger produced......
July 5, 2016 Case Laws Customs

Import of gold bracelets concealed - crossing through green channel without declaring the goods - As per Section 79(2) read with the Baggage Rules the benefit can only......
July 5, 2016 Case Laws Customs

Import of gold / gold jewellery - passing through green channel - As per Section 79 (2) read with Baggage Rules, 1998 the benefit can be extended to the passenger who......
July 5, 2016 Case Laws Customs

Valuation - Commissioner of Customs (Appeals) accepted the discounted price of import which was in the range of 87% to 97.35% - adoption of transaction value of......
July 5, 2016 Case Laws VAT and Sales Tax

Claim of benefit of exemption on supply of Ready-mix concrete to the developers of Special Economic Zone (SEZ) - authorized operations - Migration from sales tax regime.....
July 5, 2016 Case Laws Income Tax

When the issue is debatable the provisions of Section 154 cannot be invoked. The provisions of Section 154 can be invoked when there is apparent mistake which is glaring and patent.
July 5, 2016 Case Laws Income Tax

At the stage of issue of re-assessment notice, what is required is “reason to believe” and not the established fact of escapement of income. Reasons recorded on the......
July 5, 2016 Case Laws Income Tax

Registration can be rejected only when (a) activities of the trust are not genuine, and (b) that the activities of the trust or the institution are not being carried out....
July 5, 2016 Case Laws Income Tax

Rejecting the Trust registration application u/s 12A on the ground that it is filed late is not correct because, registration can be granted prospectively
July 5, 2016 Case Laws Income Tax

Merely having a reason to believe that income had escaped assessment is not sufficient to reopen assessments beyond 4 year period. Escapement should be linked with......
July 5, 2016 Case Laws Income Tax

If no incriminating material (representing undisclosed income or undisclosed assets belonging to the assessee) found during the course of search - addition cannot be......
July 5, 2016 Case Laws Income Tax

Expenses, which were not incurred wholly and exclusively for the purposes of earning the income from other sources, cannot be allowed deduction u/s 57.
July 5, 2016 Case Laws Income Tax

While computing annual value of property which has been let out - disallowance made on account of brokerage charges, legal expenses, maintenance charges and insurance......
July 5, 2016 Case Laws Income Tax

Assessee unable to substantiate the money deposited in his bank accounts - Addition u/s 68 confirmed - The benefit of "peak credit principle" not extended Note:- On......
July 4, 2016 Case Laws Service Tax

Recovery of tax u/s 87 from successor of deceased proprietor - SCN was issued to the deceased but could not be adjudicated during his life time - garnishee notices -......
July 4, 2016 Case Laws Service Tax

Demand of service tax from the Sub-contractor - Demand of service tax with interest confirmed - Levy of penalty u/s 77 & 78 waived invoking the provisions of section 80- AT

1 ....46 47 48 495051 52 53 54........ 117

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H: Revision: Hospital receipts verified, partial refunds & fees paid subs...

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H: Goods matched documents like e-way bill and invoices; detention order ...

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H: Sale-purchase loss disallowed unreasonably by tax officer, commercial ...

H: Building sale value can't determine depreciation; actual consideration...

H: Loan to equity conversion attracts income tax on excess share premium ...

H: Property purchase: Joint owners pay via banking channels before regist...

H: Tax exemption limit for leave encashment: Local authorities' employees...

H: Tax assessments beyond 6-year limit quashed, satisfaction note lacked ...

H: Cash found in lockers linked to temple trust and educational foundatio...

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H: Exemption from Social Welfare Surcharge on duty-free imports via scrips.

H: Claim for performance pay not an operational debt under IBC; Multiple ...

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